Rs500 notes: Gilani approves one-year extension for exchange
The prime minister’s spokesperson said that the extension had been made to facilitate the public. The exchange can now be made until September 30, 2012.
The State Bank of Pakistan’s spokesperson said the central bank had not received any order so far.
It had earlier been reported that the federal government was expected to issue orders to provide another 15 to 30 days to people having old currency notes of Rs500 denomination to get them exchanged with new notes.
Sources in the finance ministry had told The Express Tribune that various stakeholders including banks were requesting for extension of the deadline for exchanging the notes, pointing out that a large number of people could not get their currency notes exchanged within the stipulated time.
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Politicians with briefcases of undocumented old 500 rs notes now have a year to "launder" their notes for new ones safely.
The rich and tax avoiding public has now one full year to change their ill gotten gains. It is always the poor that suffers.
One of the only few good steps, the govt took...........!